Kraken Robotics (CVE:PNG) Stock Price Crosses Below 50-Day Moving Average - What's Next?

Kraken Robotics Inc. (CVE:PNG - Get Free Report) shares crossed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of C$2.60 and traded as low as C$2.13. Kraken Robotics shares last traded at C$2.23, with a volume of 1,199,141 shares traded.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on PNG. Canaccord Genuity Group raised their price target on shares of Kraken Robotics from C$2.00 to C$2.50 in a research note on Friday, November 22nd. Raymond James upgraded Kraken Robotics to a "moderate buy" rating in a research report on Thursday, January 23rd. Finally, Desjardins set a C$3.60 price target on Kraken Robotics and gave the stock a "buy" rating in a research note on Wednesday, February 12th.

Kraken Robotics Trading Down 1.7 %

The stock has a market capitalization of C$611.72 million, a PE ratio of 59.53 and a beta of 1.15. The company has a debt-to-equity ratio of 34.32, a current ratio of 2.78 and a quick ratio of 0.64. The company's 50 day moving average price is C$2.58 and its two-hundred day moving average price is C$2.20.

Insider Transactions at Kraken Robotics

In related news, Senior Officer Gregory Michael Reid purchased 16,260 shares of Kraken Robotics stock in a transaction dated Wednesday, January 8th. The shares were acquired at an average price of C$2.46 per share, for a total transaction of C$39,999.60. Also, Senior Officer David Shea purchased 11,954 shares of the stock in a transaction dated Friday, January 10th. The shares were purchased at an average cost of C$2.64 per share, for a total transaction of C$31,558.56. Insiders own 10.13% of the company's stock.

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Kraken Robotics Company Profile

Kraken Robotics Inc, a marine technology company, engages in the design, manufacture, and sale of sonar and optical sensors, batteries, and underwater robotic equipment for unmanned underwater vehicles used in military and commercial applications in Canada, the Asia Pacific, Europe, the Middle East, Africa, North America, and internationally.